Shyju Thachoth, a former branch manager and accused in several cases of investment fraud associated with Kannur Urban Nidhi Limited, was on Saturday (September 6, 2025) in his residence in his residence in Kizhuthalli.
The police said that Shyju faced more than 50 cases concerning CRORES fraud, most registered during his time.
They added that the owners of Urban Nidhi Ka Gafur and Shoukatthali reportedly used employees to collect deposits promising 12% of profit. Investors reportedly did not receive their main or interest, even after maturity, and the accused allegedly fled with more than 500 GBP Crore.
Although Shyju was transported in some cases, he was later released on bail. The body was moved to the district hospital in Kannura for the test.
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Published – September 2025 17:42 IS IS
